Blockbuster debut: BLS E-Services share price opens with 126% premium at ₹305 on NSE

Given that the BLS E-Services IPO price band is ₹129 to ₹135 per equity share, analysts projected that the listing price might be between ₹300 and ₹320 per share, which would provide a multibagger return.

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Also Read: BLS E-Services IPO listing date today. GMP, experts signal multibagger return for allottees

BLS E-Services IPO on all the three days received overwhelming responses from both retail and non-institutional investors. On day 3, BLS E-Services IPO subscription status was 162.48 times, as per data available on NSE. BLS E-Services IPO, on Monday, January 29 raised ₹125 crore from ten anchor investors. BLS E-Services IPO opened for subscription on Tuesday, January 30, and closed on Thursday, February 01.

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BLS E-Services IPO details

BLS E-Services IPO solely comprises of fresh issue of 2,30,30,000 crore equity shares by the subsidiary of the listed business BLS International Services. There is no offer-for-sale component to the BLS E-Services IPO.

In consultation with the book running lead manager (BRLM), BLS E-Services IPO conducted a pre-IPO placement through a private placement of 11,00,000 equity shares for cash at a price of ₹125 per equity share, totalling ₹1,375 lakhs. The size of the fresh-issue of equity shares has been reduced to 2,30,30,000 equity shares.

Also Read: BLS E-Services IPO: Here’s what GMP hints ahead of BLS IPO listing date

The company intends to use the net proceeds to finance the establishment of BLS Stores as a means of promoting organic growth, the acquisition of businesses to achieve inorganic growth, general corporate purposes, and strengthening the technology infrastructure to develop new capabilities and consolidate the current platforms.

The registrar of the BLS E-Services IPO is Kfin Technologies Limited, while the book running lead manager is Unistone Capital Pvt Ltd.

Also Read: BLS E-Services IPO allotment declared. GMP, how to check allotment status online

BLS E-Services IPO GMP today

BLS E-Services IPO GMP, or grey market premium, is +155, similar to the previous session. In the last two sessions, the GMP has dropped. This indicates BLS E-Services share price were trading at a premium of ₹155 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of BLS E-Services Limited share price was indicated at ₹290 apiece, which is 114.81% higher than the IPO price of ₹135.

Based on the last 15 sessions of grey market activity, today IPO GMP points upward and expects a strong listing, as per analysts at investorgain.com. The lowest GMP is ₹60, while the highest GMP is ₹175.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Also Read: BLS E-Services Limited IPO: Price band set at ₹129-135 per share; check GMP, key dates, issue details, more

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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Published: 06 Feb 2024, 10:00 AM IST